When it comes to investing in real estate, the location is a crucial consideration, especially in Singapore. In this context, central areas or those close to important amenities such as schools, shopping centers, and public transportation hubs tend to experience a higher appreciation in value. For instance, prime locations including Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown a growth in property values over time. Moreover, the proximity to reputable schools and educational institutions makes condos in these areas even more desirable for families, thus elevating their investment potential. In addition to these, the recent launches of new condos, as seen on New Condo Launches, further add to the opportunities for investing in these prime locations.
The announcement from real estate agency SRI on Jan 1 revealed that 111 agents from KF Property Network (KFPN), including the head Evan Chung, have joined the firm. This accounts for 40.5% of KFPN’s sales force, making SRI the fifth-largest property agency in Singapore with a total of 1,501 agents at the start of 2025. This was achieved through the addition of agents from the four largest agencies – PropNex, ERA, Huttons, and OrangeTee & Tie (OTT). The expansion of their sales force to 1,501 agents is a significant milestone for SRI, which is aiming to reach 2,000 agents by the end of 2025.
SRI was co-founded in 2016 by managing partners Bruce Lye and Benson Koh as a spin-off from SRI5000. Starting with 120 agents operating from a small unit in Tiong Bahru, it has now grown to a sales force of 1,501 agents and has relocated to a larger office space at Great World in 2021. The firm’s CEO, Thomas Tan, has stated that the expansion to 2,000 agents will strengthen SRI’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. Tan also aims to position SRI as a boutique agency with a focus on the luxury residential market, with a goal to become a thought leader in the industry.
Former KFPN head Evan Chung, who is now a leader at SRI, explains his decision to move to the agency. He highlights the dedication of SRI in equipping its agents with effective tools, comprehensive support, and expert coaching, as well as the open and collaborative culture which makes agents feel supported and able to strive for excellence together. He believes SRI will be a great platform to grow the business and serve clients through various market segments.
After the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents, resulting in a drop from sixth to eighth largest agency in Singapore. However, Knight Frank Singapore’s CEO, Galven Tan, assures that it is business as usual at KFPN, with plans to appoint a new head to lead the agency and strategically position it for future opportunities.